Report Reveals Crypto Mining Giant Bitmain Lost $625M, Profit Expected in April

The China-based crypto mining equipment manufacturer Bitmain reportedly lost $625 million during the first two months of 2019. This is at least if a fresh report from a local media outlet is to be believed. Bitmain reportedly lost over half a billion in two months This news was first covered by the Chinese, Tencent-run news … Continue reading Report Reveals Crypto Mining Giant Bitmain Lost $625M, Profit Expected in April

UnitedCorp Sues Bitmain, Roger Ver and Kraken for Hijacking the Bitcoin Cash Network

UnitedCorp Sues Bitmain, Roger Ver and Kraken for Hijacking the Bitcoin Cash Network

The tumultuous Bitcoin Cash (BCH) network saga keeps on rolling with both camps coming up with new allegations seemingly on a daily basis. The latest encounter has seen a Miami-based UnitedCorp launch a suit against mining giant Bitmain, major crypto exchange Kraken and Bitcoin.com CEO Roger Ver. According to the official press release, the aforementioned … Continue reading UnitedCorp Sues Bitmain, Roger Ver and Kraken for Hijacking the Bitcoin Cash Network

Lawsuit Claims Bitmain Used Customer Resources to Mine Bitcoin

Class-Action Suit Claims Bitmain Used Customer Resources to Mine Bitcoin

Based on a class-action suit which was filed in a Northern California district court in the United States, Bitmain has allowed some shady practices over the past few years. According to the suit, Bitmain accessed user resources when they were going through the “initialization” process to mine for Bitcoin. According to a bitcoin miner who … Continue reading Lawsuit Claims Bitmain Used Customer Resources to Mine Bitcoin

Bitmain CEO Claims That ICOs are an ‘Unsustainable Financial Bubble’

Bitmain-CEO-Claims-That-ICOs-are-an-‘Unsustainable-Financial-Bubble’

Jihan Wu, founder and CEO of Bitmain, which happens to be the most valuable company in the entire crypto industry, does not believe in the future of the initial coin offering (ICO) model. Speaking with CoinGeek, the accomplished entrepreneur criticized ICOs for being too unstable and not trustworthy, compared to initial public offerings (IPOs) – … Continue reading Bitmain CEO Claims That ICOs are an ‘Unsustainable Financial Bubble’